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Vossloh secures rail fasteners supply contract in UAE
Vossloh awarded UAE Package 2A turnouts and fasteners contract
Hopes rise for trans-Korean rail traffic
King inaugurates Haramain High Speed Rail
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Stage 2 will extend the UAE network by 605km, running from Ghuweifat on the border with Saudi Arabia to Fujairah on the east coast.
The standard-gauge, double-track network will be constructed in five stages, with contracts for mainline civil and track packages set to be awarded in geographical alignment of the emirates through which the line passes.
The 139km first stage of the expansion (Package 2A) will connect Ruwais with Ghuweifat. Vossloh will supply 38 turnouts and 495,000 sleeper sets fitted with the W30 HH rail fastening system by the end of October.
The line is designed for a maximum axleload of 32.5 tonnes and speeds of up to 160km/h for freight services and 200km/h for passenger trains to allow cross-border interoperability.
The order comes as Vossloh announced that sales increased by 5.9% from €865m in 2018 to €916.4m in 2019. Vossloh says this is due to growth in the core components division, which generated significantly higher sales from the rail fastening systems business, especially in China and North America, and in Australia thanks to the acquisition of concrete sleeper manufacturer Austrak in 2018.
The lifecycle solutions division also made a significant contribution to the company’s improved sales performance following the expansion of capacity by acquiring several new milling machines.
At €55.7m, adjusted 2019 Ebit exceeded both 2018 Ebit (€54.2m) and recent expectations. The adjusted Ebit margin was 6.1% (6.3% in 2018).
Vossloh’s 2019 performance programme had a €93.3m negative impact, including €30.2m for redundancies. The remaining €63.1m was due to allowances and losses related to the sale of unprofitable activities, including the exit from the lossmaking American turnout business. One American company was sold in its entirety, while all relevant operating assets were sold from another.
“2019 was an eventful but above all a successful year for Vossloh,” says CEO, Mr Oliver Schuster. “In addition to higher sales revenues and improved profitability, the high level of orders received and newly concluded framework agreements in particular demonstrate that Vossloh is on the right track.
“At the same time, we were able to make significant progress in important investment projects, such as the construction of our vertically integrated lead factory for rail fastening systems at our headquarters in Werdohl and a new factory for concrete sleepers in Canada. No less significant in this context is the establishment of a new joint venture in the important Chinese market and the strategically significant investment in our French foundry for manganese frogs.”
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